Blue Ocean Strategy

One of the concepts that embody entrepreneurship and innovation: Blue Ocean Strategy (BOS)

What is Blue Ocean Strategy? See here for answer.

Ocean= market or industry

Blue oceans: untapped or uncontested markets, which provide little or no competition for anyone who would drive in as the markets aren’t crowded.

Red oceans: a saturated market where there is fierce competition- already crowded with companies/businesses providing similar services or goods.

Blue Ocean Strategy:
- create uncontested market place
- make competition irrelevant
- create and capture new demand
- break the value/cost trade-off
- align the whole system of a company’s activities in pursuit of differentiation and low cost.

Red Ocean Strategy:
- compete in existing market place
- beat competitors
- exploit existing demands
- make the value/ cost trade-off
- align the whole system of a company’s activities with its strategic choice of differentiation and low cost.

For further information about the BOS tools that can be used for creating and capturing blue oceans, please link here.

For the test of how blue is your ocean, please link here.

For further information about all you need to know about Blue Ocean Strategy, please visit www.blueoceanstrategy.com.

Conclusion: Blue Ocean Strategy tells us that success is NOT dependent on fierce competition, expensive marketing/ promotional tools or high R&D budgets, but on smart strategic moves that can be used systematically by established companies or start-ups alike.

So good luck and best wishes in your current or future endeavours......